Can You Declare Chapter 7 Bankruptcy and Keep Your Home?

Declaring bankruptcy is a last resort for people in extreme financial difficulties, but in some cases, it’s the only way to get out from under a mountain of debt. One concern that many people have about filing for bankruptcy is whether they can keep their home. Let’s take a closer look at this important question.

Under Chapter 7 Bankruptcy Rules

The traditional form of bankruptcy is known as Chapter 7. When you declare bankruptcy under this section of the Bankruptcy Code, you are putting your assets at risk. The bankruptcy trustee will typically take your available assets to pay off your creditors unless the assets are exempt from forfeiture by state or federal law. (more…)

Continue Reading

Filing for Bankruptcy as a Single Parent

Any single parent knows the struggle of trying to raise a child, but that difficulty only increases when bills begin to pile up. You may find that you are not able to afford the lifestyle you once had, or perhaps you realize that your child is suffering because of it.

Financial issues are one of the major reasons people get divorced in the first place, but the problems don’t end there. Many people have money problems after divorce.  Trying to make it as a single parent is challenging.  As a result, many single parents consider bankruptcy. (more…)

Continue Reading
Close Menu